Generation Y think we quite cool!

A survey has revealed that young generation find people over 50s as 'friendly' and 'knowledgeable'.
Youngsters actually have a rosier impression of their elders than older people give them credit for.
While the over 50s typically think members of the iPhone generation see them as "past it", that is not the view held by most 18-to-24-year-olds.
A survey has found that today's young people think those of their parents' and grandparents' generations are friendly, knowledgeable and - for want of a more up-to-date expression - "with it".
"Around 67% of over 50s believe 18-to-24s perceive them as 'past it', but the reality is that just 18 % of 18-to-24s actually have that perception," the Telegraph quoted Ros Altmann, director general of Saga, which commissioned the poll, as saying.
"And while only 11% of over 50s think younger people perceive them as friendly, the reality is that around 29% of 18-to-24s do actually think older people are indeed friendly.
"Just 17% of over 50s think 18-to-24s consider them knowledgeable. However, the truth is that 42% of this age group perceive oldies as being great founts of knowledge," she added.
YouGov conducted the research for Saga, which interviewed 1,148 adults in February.

50+'s still into romance and sex

As Valentines approaches the over 50’s are reporting higher levels of satisfaction with their health and relationships than their younger counterparts, according to Saga Health.  However despite agreeing on the state of their health, the old adage that men are from Mars and Women are from Venus is still going strong, with Men twice as likely to admit dissatisfaction with their sex lives as women (21% versus 12% for women).    

Despite their sex lives being a point of contention, it does not appear to directly correlate to peoples overall satisfaction with their relationship.  In fact  84% of over 50s are confident that they think they will be with their partner forever. 

Saga panellists were asked to compare their sex life today with their sex life in their 20s and 30s. While 85% said sex was less frequent now, 82% said there was less pressure to have sex and 61% said it was more fulfilling. 68% of respondents disagreed with the statement ‘It is more boring’. In fact almost half (42%) of sexually active Saga panellists have sex at least once a week, with a further quarter saying fortnightly.
When asked how satisfied people were with other aspects in their lives, it was clear from the results that with age, comes happiness, confidence and contentment. Over 50s in general are much happier with the way they look, their relationship and their overall health compared to the younger generations. Almost three fifths of over 50s are satisfied or completely satisfied with their health, compare to only a third of under 50s. And when looking at life overall, 79% of over 50s are satisfied or completely satisfied, compared to just over half of under 50s (57%)

Older drivers safest in icy weather

Another plus of being 50+!


Insurance claims by over 50s drivers are actually DOWN 17% this December, compared with the same time last year, Saga Motor Insurance can reveal.
It seems that older motorists are heeding the warnings to stay off the roads in bad weather.  As AA statistics show that motorists in general are making twice as many claims as normal due to the bad weather, this must be younger drivers, because Saga's experience shows that older motorists are having fewer accidents this year.
Saga Director-General Ros Altmann commented: "It is really encouraging that older motorists are using their experience and planning around the bad weather to ensure they are not out on the roads in the ice and snow."

Nearly one in ten pensioners still have a mortgage

Some owe hundreds of thousands of pounds, and have no option but to remortgage.

Also instead of enjoying retirement, many pensioners are having to continue working in order to cover the cost of their mortgage

A survey of 6,000 Britons for Saga found that 8.6 per cent of over-65s have a mortgage.

A separate report, from the economic research group Policis, suggests the problem will get worse. It found that 53 per cent of over-50s with a mortgage have a loan which stretches past their 65th birthday.  Nearly two-thirds said they ‘intend to borrow into retirement to support their financial plans for later life’.

Saga divorces' on the rise as over-50s couples fall out of love

A third of men polled for Saga said their marriage ended as their partner was no longer interested in sex. Most women said their ex-husband was emotionally cold.

Nagging also scored highly, listed as a top reason for a split by 14 per cent of the 1900 divorcees aged 50 and over asked. In 10 per cent of cases, couples said they'd simply run out of things to talk about.

For the sake of research 1,900 people were questioned and the main reason for men wanting a divorce was that their partner was no longer interested in sex while women argued that their reason to head for a divorce was the emotional coldness of their husband. Emotional coldness contributed to 28% of those divorced in the over 50 category. The research revealed that 10% couples admitted that they no longer have anything to talk while 14% said that constant nagging was responsible for their divorce. The research also found that 27% admitted that they no longer are committed to their marriage while 5% were unhappy that their partner flirted with friends and colleagues. Another major factor among couples to divorce was the financial matter. Around 9% couples complained that their partner failed to contribute financially to their relationship that led to a divorce while 8% said that their partner spent too much.

'Let us keep working after retirement' say over 50’s

Sixty per cent of over 50's feel that there is not enough help given to them to remain in the workplace after the default retirement age, despite one in three people wanting to do so, according to new research out today.

SAGA and the National Endowment for Science, Technology and the Arts (NESTA) say that two thirds of over 50's (67 per cent) believe a default retirement age is unnecessary. 90 per cent say that retirement should not be about age, but about ability and desire to work and 85 per cent say that the default retirement age is used as an excuse by employers to get rid of staff.

The survey of 13,040 over 50's reveals that rather than being a drain on society in retirement, a third want to continue working after retirement age with a further 12 per cent wanting to contribute to society in some way - either through volunteering or caring.

Emma Soames, editor at large, Saga Magazine, says: 'Our research very clearly shows that a default retirement age is arbitrary for many people approaching retirement and many feel unsupported, particularly if they want to continue working. Moving from full time work to retirement should be a process of winding down - more akin to strolling down to the beach rather than being pushed off the cliff edge.'

The most common reason for working after retirement was to earn money (61 per cent) followed by wanting to keep an active mind (59 per cent) and enjoyment of working (50 per cent). 46 per cent agreed that it should be for the individual to decide when to retire, not the state. 46 per cent also stated that they could not afford to stop working at the default retirement age.

Jonathan Kestenbaum, Chief Executive of NESTA, says: 'Against a backdrop of an ageing society and strained public services older people can contribute immeasurably to the economy and society. Our survey shows that they want choice and flexibility in how they live their lives. We need a radical rethink of how we engage with older people.'

Further research shows:

* A third (35 per cent) of over 50's want to continue working after the state retirement age, whether full time, part time work or by setting up a business

* A third (31 per cent) want to stop working before the state retirement age and 14 per cent want to stop working at the state retirement age

NESTA's 'Age Unlimited' programme works with people in their 50s, employers and third sector organisations to experiment with new work patterns and lifestyle choices that enable them to continue to contribute to the economy and society.

For more information please visit www.nesta.org.uk/age_unlimited

Over 60s using assets to make most of retirement

A fifth (17%) of over 50s have little money left over to enjoy their retirement once they have paid off their debts and more than two fifths (41%) of retirees find clearing their debts difficult, highlighting how hard it is for many people to fund their dream retirement, according to a new study from Saga Equity Release. However, an increasing number of over 60s are now using equity release to unlock money so they can enjoy a better quality of life in retirement.

With more than one in ten (13%) over 55s retiring in debt, equity release is being used to clear these and alleviate financial worries, leaving people better off in real terms and free to get on with enjoying their retirement.  The research shows that two fifths (40%) of this age group have used equity release to clear borrowing, whilst a third (31%) use it to re-mortgage.

Over half of over 60s (52%) use equity release to carry out home improvements and transform their homes, while a third (34%) fund the holiday of a lifetime. A generous 20% give the money as a gift to family.

Over 50's love driving gadgets..

...according to new research by Saga Motor Insurance. Far from being afraid of trying out new gadgets, the baby boomer generation believe they help them to be better drivers.

As you would expect from the safest group of drivers on the road, the over 50s tend only to value gadgets that improve their safety or enhance their driving experience such as Sat Nav systems (32%) and cruise control (20%) and are much less likely than younger motorists to have distracting devices such as iPods and Blackberries or Smartphones in the car with them.

Over 50s also prove to be the most responsible when it comes to using hand held mobiles in the car.  Just one in ten (12%) of the over 50s say they have used a handheld mobile while driving since it became illegal in 2003, this is compared to over a quarter (28%) of those under 50 and a third (33%) of 18-34 year olds.  What is perhaps even more worrying is the 22% of 18-34s who text while driving and 2% of all motorists who admit to emailing behind the wheel.

The survey has also found that some drivers find gadgets designed to aid driving a distraction.  A third of all drivers (31%) said they find hands free mobile technology distracting and 35% also said sat nav systems were off-putting.

So you now have total permission to go and buy some new toys!

50+ - the latest statistics

Saga have commissioned a new report on the over 50's which has produced some fascinating stats.

• ONE in eight of the people who turn 50 this year will live to the grand old age of 100
• One in seven of the runners in this weekend’s London Marathon will be aged 50 or older and  46 per cent say they are taking more exercise than they have ever done before.
• Three-quarters of the age group say they are more concerned about being healthy than they have ever been. By comparison with their parents’ generation, today’s over-50s are less than half as likely to smoke cigarettes – 40 per cent in the mid Seventies, down to 15 per cent now.  
• They are also four times more likely to take health supplements and vitamins and six times more likely to be on a low-fat or low-cholesterol diet. One in five 60-year-olds say they have climbed a mountain in their 50s, and almost a quarter, or 23 per cent, have run or jogged at least a mile in their 50s. 
• One in six 70-year-olds claims to have run more than a mile at some point during their 60s. Six in 10 over-50s have tried “brain training” computer games and one in eight men over 50 claim to have taken Viagra in the past five years. 

50+'s retiring gradually

Some new research from Saga suggests that more and more over 50's have adopted a gradual approach to retirement.

Around 24% of people in the age group have rejected full retirement in favour of continuing with some paid work, as well as carrying out voluntary work and having more leisure time. This is up from 19.5% 10 years ago. The group predicts there will be a 50% increase in the number of people who take this approach to retirement during the next 10 years, with around three million over-50s combining work and volunteering by 2019.

The research found that people typically start scaling back their working hours when they are 57, with the average person carrying out 27 hours a week of paid work and eight hours of voluntary work.

Around 97% of people aged over 50 said they would not want to continue working full-time until they reached the state pension age, but 38% would like to work on after 65 if they were offered shorter, more flexible hours, while 69% would like to do some voluntary work.

A third of people who have already retired said they would prefer to still be doing some paid work, although the majority wanted to do 10 hours or less a week.

Among those aged over 50 who had continued in paid employment 70% said they loved working.

Older workers were most likely to enjoy their jobs if they felt connected to the community, with those working in retail, teaching and nursing having the highest levels of job satisfaction.

What do the over 50's use their mobiles for?

Apparently for taking photos - well certainly when they are on holiday.

This is according to a new poll by Saga Holidays, which revealed that the over-50 age group has become more likely than ever to use technology such as camera phones and mp3 players while on an overseas holiday.

Over half (60 percent) of over-50s going on holiday said they had camera phones which they planned on taking abroad.

Chief executive of Saga Holidays Susan Hooper explained that phone cameras will become a "holiday packing essential" as technology improves further.

"The over-50s have really embraced new technology and I'm sure we will be seeing some of our customers updating their Facebook or blog pages via their handheld soon," she said.

It was also revealed one in 20 over-50s were planning on using their camera phone as much, or more than, their regular camera.

A separate Saga poll recently revealed that the over-50s had become more inclined to experience new cultures than have a beach holiday.

Just how many credit cards do we need!

Some forty nine per cent of over 50s admitted to using more than one credit card, according to research conducted by Saga, with seven per cent saying they carry five or more credit cards in their wallet.

Less than a quarter (23 per cent) of people aged 50 do not use a credit card, compared to over a third (34 per cent) of under 50s.

Of those who said they held more than one credit card, a third said they utilised all their plastic in the same way, with one five saying they used their cards to give them some breathing space when they need extra credit.

The same number said their credit cards were using for big ticket purchases.

While use of multiple credit cards by over 50s is up compared with the rest of the population, it would seem that they are more likely to make their repayments on time – nearly three quarters (73 per cent) claim to have never missed a payment deadline.

By contrast, 47 per cent of under 50s admit to having missed a credit card payment at some point, with eight per cent of under 35s saying they regularly do so.

Furthermore, over a third of people mistakenly believe that having multiple credit cards cannot have any impact on credit scores, while a quarter believe it can actually improve their rating.

Born again bikers

Saga plans to extend its financial services to include motorbike insurance next month.

At a time when their mothers and fathers were thinking of putting their feet up, hundreds of thousands of fifty +'s today are hitting the road in search of thrills. To be precise, about 700,000 people in this age group now own motorbikes and Saga's research suggests another million wish they did so.There is a current advert on TV which accurately presents this picture. In the UK we call them born again bikers.

Do you really want your kids back living with you?

Despite growing up and spreading their wings, a third (31%) of parents have welcomed their ‘boomerang’ adult children back to the family home according to new research out today.

The research conducted by Saga Home Insurance, reveals that over three-quarters (78%) of over 50s enjoy having their children move back in with them – and today’s turbulent economic times are a contributing factor.

Over one-in-ten over 50s who have ‘put up’ their adult children again after they first left home did so to help their children out in times of financial difficulties. A further 17% have provided accommodation for their adult children following a divorce or separation.

While many children return home after completing university (26%), planning for a short stay while they find their feet, it seems many children may be outstaying their welcome.

Almost a fifth (17%) have moved back in with their parents for over a year, suggesting parents may be making their lives a bit too comfortable!

A quarter (27%) of parents asked for a financial contribution towards the increased household bills, but 28% didn’t want any financial assistance. 16% of children contributed financially even though their parents did not ask for help, whereas, 15% of children are unwilling or unable to contribute at all.

Even if their children do contribute to the household bills, many over 50s could still find themselves out of pocket as a fifth (16%) of parents even go so far as to make changes to their own property to house their offspring comfortably.

50 + more financially savvy

The over 50s are using their credit cards instead of debit cards while shopping to protect themselves from retailers going under. New research from Saga credit cards has revealed that the over 50s are so aware of the effect of the current economy on retailers, that they are taking steps to ensure they do not lose out if businesses they have shopped at go bust before they receive their purchases. Three in five over 50s (58 per cent) said they are now using their credit cards to ensure their purchases are protected in case a shop goes under because they know their credit card company will allow them to claim a refund if the purchase is over £100. The proportion of the population as a whole that are now shopping using their credit cards in order to protect themselves financially is slightly lower - 46 per cent – which, says Saga, shows that the older generation is "both more financially aware and more eager to protect their purchases." Saga found that other reasons why people are using credit cards as opposed to cash and other cards include the fact that they get cashback and rewards every time they spend on them (32 per cent) and because they help them manage their money (24%). Almost half of the population as a whole (46 per cent) and more than half of the over 50s say it is simply because it is easier than carrying cash. Saga's research also found that throughout 2008, holidays, eating out and supermarket shopping were by far and wide the most regular credit card purchases for the over 50s, which reveals that many of the Saga generation are still finding both the time and money for luxuries. According to the research, Tesco and Sainsbury's came out as the most popular places for this age group to shop – there was no sign as yet that the over 50s are being forced to turn to the discount food retailers for their weekly shop.

50+ women are more irritable in marriage than men

A Saga survey of 800 50+ women and men shows that women are for more annoyed with their men than the other way around.

Four in five women admitted they found certain aspects of their husband's behaviour irritating.

Men are more forgiving, with four in ten (40 per cent) finding nothing irritating about their spouse.

In total, only one in five people (22 per cent) said that nothing irritates them about their spouse.

The survey comes in the run-up to Christmas – one of the few times throughout the year when many couples spend a significant amount of time at home together.

The biggest frustration for men was their wives always wanting to do things their own way (19 per cent) and their wives making arrangements without consulting them (14 per cent).

The survey looks at the common complaints in marriage for the over-50s.

The top five for women include:

*Being taken for granted (26 per cent)

*Having an untidy partner (24 per cent)

*Their husbands insisting on always doing things their own way (24 per cent)

*Their husbands leaving all the housework to them (17 per cent)

*Their husbands undermining them in front of others (13 per cent)

Helping out with the housework shows the widest difference in attitudes with just two per cent of men admitting this was a cause of friction compared to 17 per cent of women.

Despite these findings, the over 50s couples still enjoy being with each other as more than three quarters (83 per cent) believe that spending time together is the most important aspect of marriage.